9Lun·

$BATS (-0,24 %) is preparing to reduce its stake in the company to $ITC to 25% this week. They currently hold 29.03% and are therefore the largest shareholder, which they would still be after the reduction. The proceeds will be used to reduce debt and buy back shares. With the 25%, BAT still retains a veto right.


The sale of the ~4% makes sense. It makes no difference whether BAT holds 29% or 25%, I think the debt reduction and especially the share buybacks (if you are valued so favorably) are very good.

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pop in a Sos simply because it annoys me that everyone calls his stock cheap
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It's definitely a good number
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I also think it makes sense
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